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Google Daily Technical Analysis | 5 September 2017

2017-09-05 08:37 am | Resource: Technical Analysis Section | No Views : 165

By the end of August, Google shares finally crossed the upper border of the rectangle where the stock was trading for a full month, and also broke the major downtrend line on the hourly interval.

Google Daily Technical Analysis | 5 September 2017

Currently, neutrality controls the movements of the stock as long as it ranges from 941 to 931.62 and the three moving averages are (10.20.50). The 50th position indicates that only the main direction is still bullish.
The rate of change in the price has breached the bullish trend line and is currently trading close to the overbought areas, so the stock might need to test the 931.97 $ to gain more momentum.
It is expected that, as long as Google shares are trading above the $ 931.97 level, it targets 959.83 on the other hand if the retest is successful in returning the stock to the rectangular pattern that might target the 918.30 level.
Support: 931.97 - 918.30 - 904.24
Resistance: 942.40- 958.78- 980.42
Trend: neutral


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